Permian Resources Co. (NYSE:PR) Shares Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC increased its holdings in shares of Permian Resources Co. (NYSE:PR) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,892 shares of the company’s stock after purchasing an additional 28,436 shares during the period. Oliver Luxxe Assets LLC’s holdings in Permian Resources were worth $2,544,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PR. Hexagon Capital Partners LLC raised its stake in shares of Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after buying an additional 1,998 shares in the last quarter. UMB Bank n.a. lifted its holdings in Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after acquiring an additional 1,390 shares during the period. Sunbelt Securities Inc. grew its stake in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after purchasing an additional 800 shares during the period. Blue Trust Inc. increased its holdings in shares of Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after purchasing an additional 2,629 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Permian Resources in the third quarter valued at about $45,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group dropped their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Mizuho lowered their target price on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. Finally, Truist Financial increased their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and a consensus target price of $18.87.

Permian Resources Trading Down 1.7 %

Shares of NYSE PR traded down $0.26 during midday trading on Monday, hitting $14.88. The stock had a trading volume of 4,297,011 shares, compared to its average volume of 6,603,324. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 0.88 and a beta of 4.32. The company has a fifty day moving average price of $14.65 and a 200 day moving average price of $14.67.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.21. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, analysts predict that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is 36.36%.

Permian Resources Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.